Right Choice Capital Pte Ltd (Singapore) is continuing to execute its rapid business expansion strategy in the Philippines & Singapore markets with the addition of a licensed bank to its growing group of bank & financial services businesses.
The company said that has been granted formal approval by the Philippines regulator (Bangko Sentral Ng Pilipinas) to proceed with its acquisition process for the Rural Bank of San Luis (Pampanga).
Rural Bank of San Luis (RBSL) is a fully licensed Rural Bank in the Pampanga region of the Philippines with a proud 50-year successful operating history. RBSL is licensed for Savings, Time Deposits, and Lending to its MSME and Consumer customer base.
Right Choice Capital Group (RCC) has also launched its new major funding round – a $10M Series A Equity round to further support its rapid scaling, with additional banking and financial services business acquisitions expected during Q1 & Q2 of 2023. Initial, early investor interest is highly supportive of the company’s rapid expansion strategy.
According to Right Choice Capital CEO and Founder, Mr. Kodi Kodrowski:
“The acquisition of RBSL is a key element in our group’s rapid expansion and diversification strategy. We started six years ago as a regulated Finance Corporation, and have steadily added multiple, licensed business units including Remittances (Right Choice Payments – an MAS licensed Major Payments Institution), SAAS & Knowledge-Process Outsourcing, as well as a Merchant Acquisition (Card Services) business.
This is all part of building out a fully diversified financial services group with a complete range of services for the still underserved SME, MSME and Consumer market sectors in the region.”
“The RBSL acquisition is part of RCC’s broader “banking rollup” strategy, with another bank acquisition currently under negotiation”.
“We are expanding RBSL bank with a fully digital product range, while retaining its personalized, “relationship driven” core business for MSME and individual customers”,
added Mr. Kodrowski.
In order to underpin and accelerate the rapid expansion of the RCC Group, we are currently in the capital markets, offering accredited investors and strategic partners the opportunity to participate in the company’s growth, by investing in the current USD $10M Series A Equity Funding round.
We expect that there will be significant investor and strategic partner upside as we rapidly grow the business into a much larger FinServices & Banking Group during these next few years, with an accelerated start to 2023”.
Featured image credit: edited from Freepik here and here
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- Source: https://fintechnews.sg/68447/fintechphilippines/right-choice-capital-group-expands-to-philippines-acquires-local-rural-bank/